What it is: A market failure occurs when the supply of a good or service is insufficient to meet demand. This results in an inefficient distribution of resources among market participants. Under free market conditions, prices are determined almost exclusively by the forces of supply and demand.
NuvaRing is currently under the protection of a patent that prevents any generic NuvaRing from being manufactured in the United States. The first patent for NuvaRing currently expires in April 2018.This is the earliest possible date that a generic version of NuvaRing could become available. However, there are other circumstances that could come up to extend the exclusivity period of NuvaRing beyond 2018.This could include such things as other patents for specific NuvaRing uses or lawsuits.uvaRing is currently under the protection of a patent that prevents any generic NuvaRing from being manufactured in the United States. The first patent for NuvaRing currently expires in April 2018.
US patents with a filing date before June 8, 1995 provide protection for up to seventeen years counting from the date of grant (the date given with reference numeral 45), or 20 years from the filing date, whichever expires later. However, the patent holder is required to pay maintenance fees to keep his patent valid. In most European countries, these fees are yearly. The USA requires maintenance fees to be paid at 3.5 years, 7.5 years, and 11.5 years after issuance. If the holder does not pay a maintenance fee, the patent becomes abandoned.